Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Showing posts with label Soybeans. Show all posts
Showing posts with label Soybeans. Show all posts

Monday, February 25, 2013

Market Report: It Has Started

Well not quite, but it's very possible now a high is in place. In last week's I was looking for a push higher to test the prior highs. We have been tracking an ending diagonal for the past few weeks, only the trouble with that pattern is they have a tendency to morph and waste time.

Last week

SPX Chart
Larger Image

It's the time wasting as it forms the wedge shape that frustrates traders, until a point it breaks hard and almost all traders are not aware what has happened.
When markets are like that I strongly encourage members to look at other markets, with over 25 markets
that we follow a decent idea is never far away.

SPX Chart
Larger Image


Well we finally got what appears to be the break we were expecting, and we even followed it lower to cover our shorts on the end of a 5 wave move.

If the bounce remains under the prior swing high at 1531SPX, we are looking to put shorts back on for what I expect will be a strong breakdown towards 1450SPX.

With our risk known, it offers a higher reward for a small risk, exactly the sort of trades that I encourage members to take, I think if the market fails to see a strong break above 1520SPX, it should setup for a decent move lower, having put in a 5 wave decline it's a strong start that a peak is in place.
As always we use stops and know our risk before we put the trade on.

ES

As mentioned above, some members trade the ES, so we have almost 24hr coverage of the markets. If members want an update as to the ideas, they can come into the chat room and ask questions or see the latest ideas in the forums. With the extensive range we trade there is always a market for everyone.
Some members, including myself were short the ES well before the move as we knew the risk to the idea was just under 1540SPX, so using the ideas on the SPX for risk control on the ES.
I was personally short from 1517-20ES as suggested in our swing trades service, so members had the ability to follow my personal trades.

Read the rest here:  http://www.safehaven.com/article/28924/market-report-it-has-started

Tuesday, October 30, 2012

Elliott Wave Analysis of Soybeans


After nailing the top in beans and going against the majority of the crowd, (you all remember the droughts don't you, oh yeah that was going to see Soybeans go to $50 a bushel yeahhhhhhhhhh that went well didn't it lol)

Why was a mega bearish on Soybeans when virtually the crowd was long and bullish? why that would be because of a 5 wave advance, nothing complicated at all

Traders are bullish at the top of a move and bearish at the bottom, its never changes traders follow each other, its traders that think outside the box that are usually a head of the herd

I thought i would share with you how this trade went in real time as it involved timely updates helped a few members make some serious $$$ on this trade, as well as letting them know when to get out and lock in the gains.

5th Sept 2012, market is mega bullish as usual at the highs, but i am mega bearish based on Elliott Wave patterns.

17th Sept 2012

20th Sept 2012


27th Sept 2012

15th Oct 2012 (ready to bounce)

24th Oct 2012

29th Oct 2012


What is next for Soybeans?

Well after a 5 wave decline we have seen a 3 wave bounce just fall short of the $16 target, but if the next move lower has started, then its game over for Soybeans as i am targeting far far lower prices

Elliott Wave makes sense if its used in the right hands, you think its worth the $15 a month charge to see other commodities?

Or do you want to keep 2nd guessing?

I do this for many more markets from US and European stocks to other commodities such as Oil, Gold and Silver, as well as many Forex pairs

Elliott Wave is a great tool if its used by an experienced Elliottcian, its not perfect, but with a road map you can have an idea where you are going and can control risk.

This is what i do day in day out 7 days a week, 52 weeks a year, find opportunities so members can make great trades

Are you ready to make some great trades?

Monday, September 10, 2012

Elliott Wave Analysis of Soybeans



The potential for Soybeans to break lower is very real now, it has a completed looking 5 wave advance, although there is a divergence in the grains markets as both Wheat and Corn have failed to push higher as i wanted to see

So it will be interesting to see if Soybeans leads a reversal.

If a bounce fails to push above the red line, then traders can look to sell any bounce around $17.50, especially if a choppy advance, as the decline from the red line looks like a small 5 wave decline

That's a strong RSI divergence and supports the idea of a high in place








Sunday, June 17, 2012

Elliott Wave Analysis of Soybeans






Back in 1st May 2012, i wrote this for members.

One more high then strong reversal??

Lets keep a watchful eye on this market as i suspect a great trade looming, already its hit the media as bean price rocketed higher, its only now the media is making a big deal about it, errrrr where were they 1 month ago???

Indeed we got the new high and its reversed nicely, do you notice something?

A nice text book 5 wave advance from the Dec 2011 lows

What happens after a 5 wave advance is matured? why of course a reversal

Again Elliott Wave nailed the highs, just as the media were bringing it to everyone's attention

Classic Elliott Wave

If my daily wave counts are correct, Soybean Bulls are about to get a rude awakening